PSALM joined the Department of Energy (DOE) and the rest of the energy family in launching the 2019 National Energy Consciousness Month (NECM) held last 02 December 2019 at the DOE- Audio Visual Room.
This year’s NECM theme, “Advancing Consumer Protection through Responsive and Proactive Energy Regulations”, underscores the importance of upholding consumer welfare in the energy family’s strategic direction towards energy security.
As part of the celebration, a press conference was called to provide updates on the recent milestones of the DOE and its attached agencies. PSALM President and CEO Irene Joy Besido-Garcia gave a rundown of the Corporation’s activities for the year highlighting its accomplishments in asset privatization, financial and liability management, and universal charge administration.
These include the successful disposal of 166 lots under its real estate assets portfolio raising revenues of PhP1.47 billion; short term lease agreements generating lease revenues of PhP18.8 million; reduction of outstanding financial obligations by PhP33.2 billion; collection of non-current receivables from various entities amounting to PhP2.6 billion; collection efficiency of 93.71%; preparation of the Implementing Rules and Regulations of the Murang Kuryente Act; and collection of stranded contract costs and stranded debts totaling PhP5 billion. Other notable accomplishments include the favorable resolution from the Supreme Court that PSALM’s sale of power assets is not subject to value-added tax, and PSALM’s active assistance in the drafting of Executive Order No. 88 reducing PSALM’s real property tax liability for five IPP plants under BOT contracts.
The NECM is observed every December under Proclamation No. 1427 signed by then President Gloria Macapagal-Arroyo on 11 December 2007.Back